A new pact has been signed between Britain and
Mumbai-based Tata will create the new jobs in the UK as part of a new investment agreement, the Telegraph reports.
It is also hoped that a newly agreed, separate, enhanced trade partnership with India will act as a roadmap for a more sophisticated free-trade deal in the future.
The deal was struck with Tata Consultancy Services to create the 1,500 jobs, while a separate agreement with Wockhardt, an Indian pharmaceutical company, also secured 40 new jobs and investment in Wrexham, North Wales.
A new pact has been signed between Britain and India which will see the creation of 1,500 new high-skilled jobs in the UK and comes as International Trade secretary Liz Truss (pictured) ended her five-day trip to India
They were signed as International Trade secretary Liz Truss ended her five-day trip to India.
On top of enhanced investment from Indian companies, Truss also separately secured an enhanced trade partnership with India which she saw as laying the foundations for a potential ‘future free-trade deal’ as well as deepening ties with India.
Speaking after securing her her deal for Britain, Truss said it will ‘create opportunities for UK businesses that were simply not there as part of the EU, and set the stage for a much closer partnership with one of the economic powerhouses of the present and future’.
Additionally, the International Trade secretary said that Britain would be looking to explore closer ties with India over the ‘industries of tomorrow’ which include science, tech and green growth.
A Government source told The Telegraph that ties with India are at the heart of Britain’s post-Brexit plans for growth and development.
The deal was struck with Tata Consultancy Services to create the 1,500 jobs, while a separate agreement with Wockhardt, an Indian pharmaceutical company, also secured 40 new jobs and investment in Wrexham, North Wales. Pictured: Liz Truss visiting Mumbai this week
It comes after Truss confirmed the UK was applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a £9 trillion pan-Pacific free trade area.
It is hoped the UK would become the 12th member of the bloc of nations which also includes Japan, Canada, Australia and New Zealand.
The CPTPP accounts for around 13 per cent of global commerce and Ms Truss said that membership of the bloc would vindicate the decision to leave the EU.
Speaking about the UK’s application, the International Trade Secretary said: ‘Joining will create unheralded opportunities for UK businesses that simply weren’t there as part of the EU – and deepen our ties with some of the fastest-growing markets on earth.
It comes after Truss confirmed the UK was applying to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), a £9 trillion pan-Pacific free trade area
‘It will mean lower tariffs for car manufacturers and whisky producers, and better access for our brilliant services providers, delivering quality jobs and greater prosperity for people here at home.
‘We’re at the front of the queue and look forward to starting formal negotiations in the coming months.’
She also described the UK’s application as a ‘huge dollop of Brexit boosterism’.
Other signatories of the CPTPP, which came into effect in 2018, are Brunei, Chile, Malaysia, Mexico, Peru, Singapore and Vietnam.
Additionally, Ms truss remains confident the UK will be able to strike a trade deal with the US, describing the potential deal as ‘in the pipeline’ while speaking on Sky’s Ridge on Sunday.
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